OTTAWA — Did you know those loonies and toonies jangling in your pocket cost 30 cents a coin to make?

But under the government's plans outlined in Budget 2010, a new technology to make them will cut production costs significantly, saving the feds up to $15 million a year.

The government is planning to change the composition of our $1 and $2 coins and instead use a "less expensive patented multi-ply plated steel technology."

It's the same technology being used to make our smaller, shiny change, and the coins will be calibrated to the same weight as they are currently, so they'll still work in vending machines.

Our current loonie is made from an alloy called aureate -- which is a bronze-plated nickel. The toonie is "bi-metallic," a ring of pure nickel surrounding a primarily copper alloy centre.

The feds also say they're taking steps to modernize our currency and protect against counterfeiting. They'll begin with a new series of bank notes in 2011. Unlike the coins, these bills will be more expensive to make. The government says they will not only last longer, thus saving money over time, but they'll have increased security features.

The notes will be printed on a polymer material "which lasts significantly longer than the current cotton-based paper, thereby reducing production costs and the impact on the environment," says the current budget.

OTTAWA — Did you know those loonies and toonies jangling in your pocket cost 30 cents a coin to make?

But under the government's plans outlined in Budget 2010, a new technology to make them will cut production costs significantly, saving the feds up to $15 million a year.

The government is planning to change the composition of our $1 and $2 coins and instead use a "less expensive patented multi-ply plated steel technology."

It's the same technology being used to make our smaller, shiny change, and the coins will be calibrated to the same weight as they are currently, so they'll still work in vending machines.

Our current loonie is made from an alloy called aureate -- which is a bronze-plated nickel. The toonie is "bi-metallic," a ring of pure nickel surrounding a primarily copper alloy centre.

The feds also say they're taking steps to modernize our currency and protect against counterfeiting. They'll begin with a new series of bank notes in 2011. Unlike the coins, these bills will be more expensive to make. The government says they will not only last longer, thus saving money over time, but they'll have increased security features.

The notes will be printed on a polymer material "which lasts significantly longer than the current cotton-based paper, thereby reducing production costs and the impact on the environment," says the current budget.

SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson

I think they annouced a while back they were going to test it on a $100 bill, but its hard saying. Because of the grid-lock of not being able to change coin composition, it might be a long time until we do it.

Were always last in changing our currency- that being good or bad is up to you to decide.

I think they annouced a while back they were going to test it on a $100 bill, but its hard saying. Because of the grid-lock of not being able to change coin composition, it might be a long time until we do it.

Were always last in changing our currency- that being good or bad is up to you to decide.

“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw. Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market HarmonyPassive Income blog

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